There’s always an alluring appeal that comes with gold. Right? It’s and has always been a desirable asset for many years, through the ages of the queens and kings, legends of parties, and now, the world of finance, stock exchanges, and securities.
EmGoldex, which has rebranded as a company called Global Intergold, is one of the many major companies that has shifted to the gold bars investment bandwagon. The company claims to provide gold trading platforms for anyone who is interested in purchasing their own piece of treasure.
Nonetheless, is it what it claims to be? In this Emgoldex review, you will find accurate and reliable information on how the company operates and expose the truth. So, make sure you read this thorough Emgoldex review and make a smart decision before investing more money into this company.
Overview of the Emgoldex
Here are the important things you will learn in this review:
– EmGoldex is a pyramid scheme and not a legitimate gold investment opportunity.
– Very few gold bars ever reach the individual who purchased them.
– The company rebranded as Global Intergold after the Securities and Exchange Commission issued a warning against the company and called it a Ponzi scheme. The company also opened a branch under the name of PIPHC which is guilty of code violations as well.
– Both of the companies are prohibited in the Philippines and different nations based on global media reports.
– Despite claims of ties to securities businesses and gold in the UAE, the Dubai Multi Commodities Center has denounced any connection and verified that the company isn’t licensed.
– At least two investors are obliged to bring other people into the fold before receiving the payout.
In short, the company is a pyramid scheme, not a suggested company. Below is a more in-depth Emgoldex review on what’s involved in this company and why anyone who wishes to purchase gold bullion bars and sell gold should look elsewhere.
What is Emgoldex?
In case you didn’t know yet, Emgoldex is a gold investment firm with a long story behind it. You can read a full expose on MyRetirementPaycheck.org. In return for cash as an initial investment, members are given a gold trading starter pack worth thousands of dollars. The company markets itself as selling gold, but only a few physical gold bars are ever seen by the investors.
Emgoldex is a multi-level marketing (MLM) company claiming they sell gold. Nonetheless, rather than concentrating on the best gold products for low prices, the company concentrates on pulling in investors at every level. That’s a classic pyramid scheme, and many people who get involved in it do not actually benefit from it.
As an alternative, they trach investors on how they can utilize gold to boost their wealth. Emgoldex aims to recruit investors to sell their products through a shady recruitment process. They are much more focused on recruitment than the products they provide—an indication with a multi-level marketing company.
In addition, the company was known as Global Intergold. The gold they sell comes from the Emirates Gold Exchange and is registered in Dubai. Thus, the precious metals they offer aren’t subject to the same inquiry as those that come from America or Canadian mints.
How Does the Company Work?
Aside from being an MLM business, Emgoldex provides silver bullion bars and gold bullion bars. Currently, the activities of the company are managed in Seychelles, claiming they specialize in the sale of gold.
However, the company doesn’t have any discernable sale activities, and it’s clear that it depends on the funds brought in by its investors as their main source of revenue. Further, the returns that the company promises to the people who invest through it mainly come from the recruitment of people into the MLM business.
On top of that, there’s no significant incentive for the investors to distribute the gold bars the company is in possession of. You see, the company promises to investors that the entire recruitment process will help them in making some money and producing high profits.
The company also provides financial instruments such as training to its new members. The training, the new owner of the company claims, is important in the enlightenment of the new recruits about its operations.
How to Get Started with Emgoldex?
The setup has all the ordinary marks of an MLM business. First, you need to submit an order to the company no matter what gold bars you like from silver bars, platinum coins, and more. You will be obliged to make an initial investment of at least $8,000. Instead of paying for the full price of the bars, you need to make an initial investment.
After doing that, you will be given direct access to a coupon. For users who have simply started, the investment might be only $600. Further, you can get involved at the Accelerated Level, which needs an investment of $1,200, but it has more advancement opportunities.
Remember that the coupon you are given will be connected to the subscription fee needed for making an Emgoldex website. You will utilize that as the base of operation for your own online business. Further, your coupon will enable you to activate the marketing program for the company.
You see, activating the marketing program will bring you into recruiting people. After you are part of the recruits, you can receive payouts from the company. However, you are not permitted to take cashouts until you have recruited at least two investors.
Yes, you read that right. You cannot start making money unless you have already recruited two other people in the business. That’s true, especially if you have paid your own way. From there, everybody you recruit should recruit two more people as well if they like to start making money and who are frantically trying to get it back by pulling other people into the mess.
Products and Services Offered
Emgoldex claims they are selling gold. Apparently, that is their specialty. Keep in mind that the company activity is managed through Seychelles. Unluckily, there is no accurate data about the sale of gold.
It seems like the organization exists nearly exclusively thanks to the useless contributions of investors. They own nearly no gold themselves, even though they have a tiny stockpile in the UAE.
It is all smoke and mirrors. They like to encourage you that they have a product worth selling. However, rather than selling and providing a product, you will only be selling the lie of an investment opportunity.
Many individuals who make money do so via recruiting other investors. The company wishes to swindle people out of their own money and force them to work to scam other people. You don’t have any kind of incentive to sell the real gold. On the contrary, you are only told to make money through the recruitment process.
Each new member goes through some kind of training process to get a better understanding of the procedure. The company owners say that the training will help them understand the company’s operations. Nonetheless, you will not learn anything about the precious metals market. Instead, you will only learn about the proper things to say to encourage other possible investors.
On top of that, there are no products worth purchasing there. There’s no program worth investing in as well. You can use your money on other better opportunities.
You see, the power of gold and those who have it is the main play of the company. By using the magnetic appeal it has to so many and riding on the wave of popularity among other online precious metals retailers, the company has managed to shit the reliable and solid image and use it for bad.
To new members, it promises massive returns and financial stability, thanks to the gold’s unwavering strength. Like many investment scams, the company substantially oversells what it can provide, even when it’s a legitimate platform. Talk of global fortunes and how training and self-education with the team is the journey to success are red flags that something’s completely wrong.
The high-reward, low-risk mantra equipped with pressure to act fast and limited upfront information is an indication from the get-go, not to mention the different warnings from the individuals who know best.
How Does the Pyramid Scheme Work?
Like any pyramid scheme out there, Emgoldex depends on investors referring their colleagues, friends, and other trusting parties to the Forex trading platform. It’s through the recruitment of new members that the company manages to pay out dividends to its recent victims.
Here is a quick rundown of the specific process you can expect once you decide to join their international network.
Investment of Gold Bars
As mentioned earlier, the initial step is making a bulk payment to their business model. It is determined as a down payment on a gold bar starter pack. Nonetheless, it’s just a ploy to solicit investments into the business directly.
Access to the Marketing Program
After the initial payment is verified, members are provided full access by getting an access code to the company’s marketing program. The said program claims to be an informational portal, which connects the Emgoldex teams and helps people to move towards the afore promised massive returns. In reality, it’s an MLM structure to force individuals to recruit new investors.
The user then enters the code and is placed into a payout structure along with other members and provided further instruction on how to proceed.
Bringing In New Investors
The scam progresses. At this stage, the member is directly invested in Emgoldex but has no assets or funds to present it. They’re left with little option but to play the ball.
Every new member then recruits the investors to participate in the pyramid. It works on a one-plus-two basis, where every member should bring in two new individuals. That’s how the business develops and how the scam flourishes.
With Emgoldex, members must attract others with all the exhilarating service offerings that a gold investment could bring, despite the fact that they’re not technically investing in it. Most victims should resort to referring friends or other people they work with, hoping to recover their initial down payment.
Receiving the Payout
When a user has reached the necessary recruitment members, they become qualified for a payout. If somebody fails or refuses to bring in new members, they lose their hard-earned money. Users who continue the chain receive the agreed payout, even though there’s no certain specification as to what the terms are anywhere on the Emgoldex website.
Most people are very much aware of what the pyramid scheme looks like, which makes it challenging to recruit more investors. When someone gets pulled in, it could take years to get a new recruit, and most people give up before they do.
Th Global Intergold Website
When you check their website, you’ll find a lot of information there. Nonetheless, you will not see an About Us page, FAQs section, or even a contact detail about the company itself. On top of that, the domain name for Global Intergold is private. None of the organization’s founders or employees are listed on the website as well.
In fact, the website in this browser has only a sign-in button and a drop-down menu for language. The rest of the website talks about the significance of gold as a safe investment. It even utilizes information from great philosophers from the past to help sell its services.
Further, the website markets a store for investors to buy their gold. Still, you cannot access that store from their front page. You must register and sign in at the same time. You should find a person online who is giving a registration link, as the required fields are marked.
In short, you need to join the website by signing up through somebody else. That process offers the website an MLM format. That’s what makes them a multi-level marketing company and a Ponzi scheme at the same time.
Who is in Charge of the Emgoldex Company?
That’s possibly the clearest indication that this company is a major scam. You see, what investment company would not have its business credentials listed for everyone to see? If you’re in charge of a successful company, why would you not let others know who you are? That’s another thing that makes this organization shady to the public. People simply do not know who’s running the company.
Visualize going into a local business, and it’s run by folks, and you had a problem with the product or service you bought. You like to talk to the management, but there’s no one who can help you. That’s because no one is in charge of the company. People seem to work there, but they do not know who owns the place. That would make you think something isn’t right about that business.
That scenario describes how Emgoldex does business. The company appears worldwide, but no one actually knows who owns it or where the company is situated. It could be in the Philippines, but it could be situated somewhere in Europe. Others say it’s in Russia. Nonetheless, the Russian investment regulator has spoken out against the organization as well.
The bottom line is that the organization has no clear leader, founder, or management. They keep everything a secret. You will literally need to perform a serious study to know who operates it. That simply does not make sense for many investors.
Further, many investors are serious about studying the companies where they’ll risk their money. Nevertheless, they’re not going to spend months trying to study who runs a company. That information must not be made clear from the beginning. If not, chances are a company is not about the right thing.
Is Emgoldex a Scam?
Whether an organization is a scam depends on whether a person believes pyramid schemes are scams. The organization does technically do everything it says it does. However, it also employs unpleasant marketing strategies to swindle many users out of hundreds and thousands of dollars.
Keep in mind that pyramid schemes have been prohibited in many nations because of how predatory they can be. Countries such as the Philippines have already categorized the company as a scam.
The business model depends upon the user dragging other individuals into the scheme. Even when they sell gold, precious metals, or silver bars, they will never make their money back. Further, they are obliged to attract at least two investors before they are even permitted to begin taking cash payments.
Many individuals investing in the company will not receive anything out of it. If they do, they will only do so by scamming other people. Charges will already file against the American branch of the company, Emgoldec USA. The charges came from the Massachusetts Secretary of State way back in 2014. They suspected that the company had joined in civil fraud.
For the amount that the user is charged to participate in the nonsense service offerings, they could invest in real precious metals. There are other brokerages that will sell you precious metals without any weird membership costs or resell fees.
Signs They Are a Scam
The worst indications that the company is a scam have been presented already. However, here are important things you need to keep in mind:
– The company depends upon investors’ money rather than making money from selling gold
– Charges were filed against the company in Massachusetts because of civil fraud. They also lied about what their investment opportunities were.
– The company has been prohibited in the Philippines for its services and pyramid scheme setup.
– You cannot make money until you recruit two individuals. You need to get two investors involved.
– You have to recruit more and more people to make money. Selling serving offerings is nearly impossible.
You see, you can find numerous unpleasant surprises of the company’s dealings on various scam watch sites. Given that the company is based in Dubai, UAE, it is not subject to the same market regulations that Canadian and American companies are. Thus, the unregulated setup indicates that there is no telling what they will do with your money.
You must be extra cautious of any company wanting you to pay a membership fee to purchase their free service. You must look into their FAQ section and guarantee they are providing accurate information. That’s especially true when we talk about precious metals. The price of precious metals of the right company is published and updated every hour. There are other better companies out there that will sell your palladium bars and silver rounds at close to market price.
Remember that precious metals aren’t a good niche for an MLM company. However, as precious metals go, this one is extremely bad. You do not even get an opportunity to sell the gold. You can get a better opportunity to sell recruitment opportunities.
The Truth Uncovered
The Massachusetts Secretary of State filed civil fraud allegations against Emgoldex Team USA in 2014. The company purportedly registered in and keeps an administrative office in Seychelles. While it represents itself as one of those online companies specializing in the sale of gold, Emgoldex has no retail sales activity and depends on new investor funds as its main source of income.
The massive returns promised by the company are based solely on the new investor recruitment. Investors have no incentive to sell the company’s purported product, gold bars. As an alternative, investors’ efforts are mainly focused on recruitment, which assures profits in excess of 1,105%. Emgoldex Team USA is a major cog in the company’s marketing and recruitment machine while holding itself out as a training center to help investors understand and succeed in the Emgoldex networking marketing program. Investors don’t need trading experience in this process. Through the use of live events, social media, and websites, the Emgoldex Team USA has made a complicated web entangling investor.
At its headquarters in Massachusetts, they always held weekly training sessions and charged their investors an entry fee to counsel them on the pyramid scheme. Investors who are already partaking in the scheme could bring new investors to learn about the program. Emgoldex Team USA utilized the weekly training to train their existing investors on different recruitment methods, which would bring more investors to the program. They were also positioned to profit substantially as the amount of downline investors increased.
The weekly meetings uncovered potential investors to the passive income opportunities accessible on the scheme. The team eventually served as yet another tool for them to boost the value of their personal interests, even though they veiled it as weekly training.
Are you interested in joining this company? As you can easily tell, Emgoldex is not one of the best companies out there. Their services are just scams, and joining their program will only lead to unpleasant surprises. They are not the best companies listed to rely on. Their international network is just fraud.
Not only does the company utilize MLM strategies, but they are also an unapologetic pyramid program. You need to recruit other individuals if you like to make your money back. On top of that, there’s no option to sell their services or products without recruiting people.
They will only encourage you to create a free account and deposit money through a bank deposit but don’t expect anything in return. Because of that, we suggest that you stay away from it. Many people who invest in this program lose their money and ruin their personal life. There is another way to enter trading markets.
You will not feel good about your investment at all. You could work with a better broker who provides accurate data, has an adequate response, offers excellent online support, and has excellent delivery requirements instead.
If you like to own your small business, there are other practical and efficient ways to work with legal workers that involve a no-nonsense approach. We hope Emgoldex will change its tune and become a legitimate gold investing company. If it does not, it will eventually go down in history as one of the worst investment companies of all time.
To sum up, we do not feel that Emgoldex is a very reliable company. We also believe that there are other companies out that will help you grow your investment.
We hope you find this review useful and informative at the same time. Do you have experience with Emgoldex? Feel free to share your thoughts in the comments section below.